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European Switch Market Starts 2015 with Sales and Bookings 6% Higher than Q4 of 2014

Total reported sales for all switch categories in Europe for Q1 of 2015 were 6% above the previous quarter and 3% better than observed in the first quarter of 2014. Sales units for Q1 ran 6% more than units sold in Q4 and slightly less than Q1 2014.

The total booking euros reported for all switch categories in Europe for Q1 2015 came in 16% more than the previous quarter and below Q1 2014 by 2%. The first quarter’s book-to-bill ratio for euros was 1.010. Booking units in Q1 2015 were 10% more than Q4. The first quarter’s book-to-bill ratio for units was 0.976.

The first quarter versus the fourth shows higher euros and units for all but push buttons and DIP units. In total euros and units were up almost 6%. The average selling prices (ASP) was nearly unchanged on mixed results. Q1 compared to a year ago shows gains in euros for more than half of eight categories and a 3% rise in total. Units were unchanged in total with increases in over half of the categories. ASPs increased for all but three categories and 3% in total.

Sales Growth by Switch Category

Q1 2015 Versus Q4 2014

Q1 2015 Versus Q1 2014

Category

Euros

Units

ASP

Euros

Units

ASP

DIP

0.0%

-4.9%

5.1%

-1.4%

8.3%

-8.9%

Keylock

24.8%

88.4%

-33.8%

18.2%

71.2%

-31.0%

Push Button

-13.6%

-12.5%

-1.3%

14.4%

-5.3%

20.8%

Rocker

2.3%

0.4%

1.8%

-1.9%

-2.7%

0.8%

Slide

12.7%

8.1%

4.2%

12.3%

11.1%

1.0%

Snap Action

7.9 %

10.1%

-2.0 %

3.1%

0.8%

2.3%

Tact

9.6%

5.7%

3.7%

0.4%

-2.1%

2.6%

Toggle

11.6%

26.7%

-11.9%

-3.9%

36.0%

-29.3%

Total

5.9%

5.7%

0.2%

3.2%

-0.2%

3.4%

When compared to the fourth quarter, total bookings were up in euros and units for seven of eight categories. In total euros were up 16% and units 10% better. The average booking price slipped for four categories but rose less nearly 6% in total. Compared to the same quarter a year ago, euros and units were down 2% and 7%. The ABP rose 5% with price gains for most categories.

Bookings Growth by Switch Category

Q1 2015 Versus Q4 2014

Q1 2014 Versus Q1 2014

Category

Euros

Units

ABP

Euros

Units

ABP

DIP

19.5%

2.2%

16.9%

-8.4%

-22.8%

18.6%

Keylock

11.4%

30.2%

-14.4%

2.9%

-1.0%

3.9%

Push Button

16.7%

8.3%

7.7%

28.9%

25.2%

2.9%

Rocker

-2.4%

-5.1%

2.9%

-2.9%

-5.0%

2.2%

Slide

12.3%

12.8%

-0.5%

-3.0%

-7.6%

5.0%

Snap Action

16.0%

19.0%

-2.5%

-6.6%

-8.7%

2.3%

Tact

9.5%

5.6%

3.7%

-0.9%

-6.5%

6.0%

Toggle

23.3%

51.8%

-18.7%

-6.9%

9.3%

-14.8%

Total

16.4%

10.0%

5.8%

-2.5%

-7.2%

5.1%

The graph below shows total quarterly indexed sales and bookings in euros and units for the reported data since Q1 CY 2013. The first quarter of 2013 had a nice move up for all metrics. In the second quarter sales improved slightly as bookings decreased followed by a decrease in all measures in Q3. Q4 saw sales decrease and bookings improve. In Q1 2014 all metrics were at or near two year highs and slipped back a bit in Q2. In Q3 sales improved as bookings slipped, all measures finished the year lower then rebounded in the last quarter.

Book-to-bill euros and units generally declined to a low in Q3 of 2013 improved the next two quarters only to move down through Q4 of 2014 then higher in Q1 of this year. The ABP-to-ASP ratio has been above 1.0 for four of the nine quarters shown but is trending lower.

CY 2013/2015 Total Reported European Switch Market Ratios

For the period, indexed selling and booking prices generally trended lower, except for the last three quarters. Booking prices were generally slightly higher than selling prices, until the last year, and rose back above in Q1.

Michael Schwert

Michael is the founder of Cumulus, Inc. He has more than 30 years of marketing and sales as well as design experience in the electronic and electrical component industry. Prior to founding Cumulus, he was Director of Marketing for Cherry Electrical Products and held other marketing management positions with Panduit, BRK Electronics, and Ideal Industries.

Cumulus provides market information and consulting services for the global electronic components industry. The company offers three publications: Switch Tracks, a quarterly report with market information on component switches; the Relay Report, a quarterly report with market information on component relays; and Market Notes, a monthly report on sales, bookings, and business conditions in the relay and switch market. Cumulus also manages projects that help leading global suppliers in the relay and switch industry to develop new products and reach new markets.

Schwert provides MarketEYE with monthly articles that include timely and accurate market information for the electromechanical component sector of the electronics industry.